Seller's Contact Information
- RE: Party And Event Rental Services Business
- Contact: Laurie Barkman
Quick Facts
| Asking Price: | $800,000 | |
| Annual Revenue: | $1,400,000 | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | $268,000 | |
| Total Debt: | Not Disclosed | |
| FF&E: | Not Disclosed | |
| Real Estate: | Not Disclosed | |
| Year Established: | 1970 | |
| Employees: | 10 | |
| BBN Listing #: | 17360291 | |
| Broker Reference #: | B4328 |
Business Overview:
Event and party rental company offers a wide range of event rental products and services throughout Western PA and the tri-state area.
Well-established business provides tremendous potential for new owner to build upon the excellent reputation for providing extraordinary service in the planning and execution of special events of all types and sizes.
The company services more than 1,000 customers in a typical year, 88% consumer, 12% commercial. Consumers account for 62% of revenue, and commercial customers account for 38%.
Revenues across three core services include: Tent Rental & Sales (38%), Event Management (33%), and Equipment Rental (29%).
The company provides customers with a turnkey operation with respect to the infrastructure of the event by subcontracting work to vetted partner companies. By working with specialty providers of event services, the company serves as the single point of contact related to the logistics of an event which simplifies the rental experience for the customer.
Commercial accounts include education (colleges, K-12), corporations, country clubs, museums and cultural institutions, caterers, non-profits, restaurants, religious institutions, hospitals, hotels, property managers, convention centers, event planners, florists, and food service companies.
Nearly all new consumer (non-commercial) clients are referrals from existing customers and high-end caterers as well as numerous leads generated by their website on a daily basis. Excellent references from commercial clients with high name recognition assist in getting new clients. The company charges premium rates for high quality, reliable services.
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Property Features and Assets:
The Sale includes inventory, systems, policies and procedures to provide the new owner with an effective transition regardless of their industry experience. More than 50,000 rental inventory items, four vehicles, extensive warehouse pallet racking, and state of the art computer and telephone systems. The facility is perfectly suited to the business with a large showroom, ample office space, a large warehouse, indoor and outdoor loading docks, and parking for 15 cars in the front lot, and ample room in the back lot for staff parking. The building is well-maintained with numerous upgrades in the past year, including a new roof. The building is about 18,315 square feet on approximately 3 acres. The warehouse is approximately 10,000 Square Feet; the indoor loading dock area (which also serves as storage space) is approximately 3,600 Square Feet. The showroom/office space is approximately 4,700 Square Feet. There is a mezzanine over a portion of the office space which houses three furnaces, a hot water heater and storage. The mezzanine is approximately 1,400 Square Feet accessible by rolling ladder. The owners are open to selling the property in addition to the business. A detailed description of the facilities may be provided upon request.
Market Competition and Expansion:
Each year the company reaches their capacity for delivery and installation work during most weeks in season and finds it necessary to turn down opportunities for additional delivery work. To capitalize on the additional demand, the business could expand rental inventory, staff, and delivery vehicles. Operations could be expanded by adding on to the existing building, or building a separate structure on the property. The business enjoys a long-standing exclusive relationship with one of Pittsburgh’s historic museum sites. This relationship could be replicated with other cultural institutions and event venues.
Reason for Selling:
Retiring
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
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